What: BCG research reveals major untapped potential in women-centric offerings, with consumers willing to spend 15% more for better quality products.

Why it is important:  The findings highlight a critical gap between women's spending power and available products, presenting an immediate opportunity for retail innovation and growth.

BCG's groundbreaking research reveals a substantial USD 32 trillion opportunity in women-focused products and services, highlighting significant gaps across consumer goods, financial services, and healthcare sectors. Despite women controlling nearly 75% of discretionary spending worldwide, companies are failing to meet their specific needs effectively. The study, based on approximately 15,000 respondents across 12 countries, shows that even top-performing sectors like grocery and personal care achieve only 66% and 64% favourable ratings respectively.

Notably, women demonstrate a willingness to spend more for quality, with US consumers prepared to pay premiums of up to 15% for better clothing and safer sports products. The research outlines a strategic framework focusing on desirability, viability, and feasibility for developing successful women-centric offerings. Additionally, it emphasises the importance of female representation in leadership roles to better understand and address women's unmet needs effectively.

IADS Notes: Recent market evidence strongly supports BCG's findings about the untapped women's market potential. In August 2024, Mitchells Stores demonstrated the power of targeted women's offerings, with women's sales reaching 56% of their business through strategic category investments . This success was further reinforced in October 2024, when Falabella's Active Woman concept saw a 30% increase in women's sportswear demand . Additionally, Euromonitor's November 2024 trends report revealed premium products outpacing mass alternatives in women-dominated categories like beauty and personal care, validating BCG's observation about women's willingness to pay more for quality products.

The $32 trillion opportunity in women-focused products and services